Novartis Discusses
White Knight Bid
In Aventis Battle

By

Anita Raghavan and

Gautam Naik Staff Reporters of THE WALL STREET JOURNAL

Updated Feb. 26, 2004 12:01 a.m. ET

LONDON -- Novartis AG has held preliminary talks with Aventis SA about emerging as a white knight for France's No. 1 drug maker, which is in the throes of fending off a hostile takeover offer from France's second-biggest drug company, Sanofi-Synthelabo SA, say people familiar with the situation.

Novartis hasn't decided whether to act, and any potential offer remains a long way off. For its part, Aventis hasn't given a sign that it is willing to entertain the idea of Novartis as a white knight, say these people. It is...